Panama has cheapest fuel prices in Central America

Panama recorded the lowest gas prices in Central America, according to information reported in the monitoring done by the various hydrocarbon offices in each country.

Commuters in Costa Rica, in the last week of December 30 to January 5, paid $5.16 for a gallon of premium gasoline, $4.98 for regular gasoline and $4.80 for diesel, while in El Salvador premium gasoline was at $4.07, regular at $3.85 and diesel at $4.11 the gallon.

For this period, the highest prices in the region for premium gasoline, regular gasoline and diesel were in Costa Rica, followed by Nicaragua, whereas Panama had the lowest prices. (See table)

According to the studies, there was increase in fuel prices in Guatemala, where they are in the free market, unregulated by the government and adjusted weekly based on the behavior of international prices.

The situation is very similar in Nicaragua, where prices are not regulated by the government but instead established and adjusted weekly by each of the distribution companies operating in the country.

Until next Friday, January 11, in Panama the price of 91-octane gasoline is $3.69, of 95- octane is $3.95 and diesel is $3.77.

According to reports from the Secretariat of Energy, last year had record high prices of 95-octane gasoline, hitting $4.68, while 91-octane cost $4.32 and diesel $3.98.

“Panama is a net importer of petroleum products; however, its geographical position gives it a great advantage and therefore has better prices,” indicated the analyst Harry Queen.

The expert stressed that in recent years people have been surprised that Panama maintains low fuel prices.